Best Banks for Business Loan in Vizianagaram
1% - 2.5% of the Loan Amt
Business Loan in Vizianagaram Features
- Business Loan Vizianagaram provides an overdraft facility without any security
- Avail maximum loan amount up to Rs. 40 lakhs (up to Rs. 50 lakhs in some locations) without any security
- Business Loan Vizianagaram offers a Reasonable Rate of Interest starts at 10.45% per annum
- Loan Tenure ranging from 12 – 48 months
- No foreclosure/ part closure will be accepted during the first 6 months of the limit setting
- No guarantor is required
- Check out your Business Loan eligibility online or at any branch in just 60 seconds.
- Loan disbursal depends on the previous repayment of home loans, auto loans, and credit cards.
Business Loan In Vizianagaram Interest Rates
To check Personal Loan Interest Rate for all major banks you can visit: Personal Loan Interest Rates
Business Loan in Vizianagaram Documents Required
Salaried Applicants:
- PAN Card of an individual for getting a Business Loan.
- Residence Proof required (Owned/Rented/Company provided) for loans.
- Two Passport-sized photographs
- Identity proof required for the Business Loan Vizianagaram (Aadhar card/driving license/Voter Id)
- Salary slips of the previous three months of the applier are required.
- Bank statements for the last 6 months of the person applying for a Business Loan.
*NOTE: In case of rented accommodations, the rental agreement must be attached.
Self-Employed Applicants:
- Aadhar Card
- Residence Proof( Current and Permanent) is required for applying.
- Two passport-sized photographs
- All financials are required of the applicant(Balance Sheet, P&L Statement as well as ITR files).
- PAN Card is mandatory
Business Loan in Vizianagaram Eligibility Criteria
Salaried Applicants
- The workplace of the applicant should also be mentioned.
- A borrower should have a minimum earning of INR 25,000/month
- The age of the applicant should be 21 years minimum and 65 years maximum.
- Work experience of the three years and the income must get in their bank accounts only.
- Applicants should have an outstanding credit history.
Self-Employed Applicants
- The credit score of the individual should be good and there must not be any debt or dues left.
- The annual stipend of the candidates must be a minimum of Rs 2.5 lakh.
- The entire documentation procedure of the business loan is that the applicants have to present their financial and bank statements for the previous three months.
- The minimum age for an independent person must be 25 years.
- The applicants applying for the business loan should need to have a file of ITR for the last three years.
- For the businessmen, the business should be functioning from the past three years.
How to apply for Business Loan in Vizianagaram?
- Visit our website Dialabank
- Go to the loan section on the page and click on the business loan link.
- The candidate will be directed to all the details of the business loan where they can choose their preferred city, according to their needs.
- For more information about business loans and free assistance, you may call on 9878981166.
Processing Fees / Prepayment Charges on Business Loan in Vizianagaram
Every Bank and NBFC charges a fee for processing your Business Loan application. Business Loan Vizianagaram charges a processing fee of up to 2.50% of the loan amount.
If you want to close your loan before the agreed loan tenure in the documents, every lending institution charges you a penal prepayment fee for the loan duration agreed earlier. In most cases, you will unable to close the loan before the duration of 12 months from the date of availing the loan. After that, the charges depend on how many years the loan has been done.
The prepayment charges on Business Loan Vizianagaram are:
- 07-24 Months – 4% of Principal Outstanding
- 25-36 Months – 3% of Principal Outstanding
- For more than 36 months, the charges up to 2% of Principal Outstanding
Business Loan EMI Calculator Vizianagaram
Business Loan Vizianagaram Contact Number
You can easily apply online for a Business Loan Vizianagaram at Dialabank
Call 9878981166 and get instant help and approval for availing Business Loan Vizianagaram.
Pre-Calculated EMI Table for Business Loan Vizianagaram
About Vizianagaram
Vizianagaram is a city of Andhra Pradesh in India. Vizianagaram district was established on 1 May 1979, with some areas designed from the nearby zones of Srikulam and Visakhapatnam. It is situated about 24 km west of the Bay of Bengal, and 40 km from Visakhapatnam.
Major Localities in Vizianagaram for availing Business Loan
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